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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 05:14 EDT
Piper Sandler analyst Matt O'Brien raised his price target for DexCom to $300 from $230 saying the company's Q4 performance was "robust" across both geographies resulting from increased patients in both type 1 and type 2. The analyst is encouraged by the opportunity that DexCom sees in the non-intensive patient population, which the company believes represents ~30M patients in the U.S. alone. Additionally, G7 remains on track for a full commercial launch in 2021, and the manufacturing capacity improvements should allow for more investment in direct-to-consumer, O'Brien tells investors in a research note. He remains "very bullish" about DexCom's outlook and reiterates an Overweight rating on the shares.
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